West Virginia SB837 updates the law on filing fraudulent financing statements, including penalties and procedures.

West Virginia SB837 amends the state's code to address the filing of fraudulent financing statements. It specifies that knowingly filing a false record with intent to defraud is prohibited and outlines civil and criminal penalties for violations. The bill also details the process for filing an affidavit and notifying secured parties, and it grants the Secretary of State investigative powers to scrutinize such filings. Additionally, it removes outdated provisions from the existing code.

West Virginia SB837 updates the law on filing fraudulent financing statements, including penalties and procedures.

West Virginia SB837 amends the state's code to address the filing of fraudulent financing statements. It specifies that knowingly filing a false record with intent to defraud is prohibited and outlines civil and criminal penalties for violations. The bill also details the process for filing an affidavit and notifying secured parties, and it grants the Secretary of State investigative powers to scrutinize such filings. Additionally, it removes outdated provisions from the existing code.